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20091101
20091130
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away with huge payoffs before the collapse. nbc's lisa myers reports. >> reporter: it was the early phase of the financial meltdown last year. first bear stearns was sold to avoid a collapse. thousands of employees lost jobs. a new study by experts at harvard law school titled wages of failure found that since 2000, the top five executives received staggering amounts of cash bonuses and sold mountains of stock. bear stearns cashed out $1.4 billion and lehman brothers $1 billion. >> people who invested in these companies should feel betrayed. the whole idea of capitalism is that the people provide the capital and the executives take care of it for us. in this case, the people provided their capital and the executives took it. >> reporter: the study found when the firms collapsed, james cane and richard fold lost about $900 million worth of stock. but the study said they still came out well ahead overall. cane walked away with $388 million, and fold, $541 million. >> they were rewarded hundreds of millions of dollars. they got that reward for making catastrophic decisions. >> last yea
Search Results 0 to 1 of about 2 (some duplicates have been removed)